For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 24004 (Roanoke, VA) is $1,390 a month. That is up 15.8% from $1,200 in FY 2026. Roanoke is in the Roanoke, VA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,464. Among 37 ZIP codes in Roanoke City, 24004 is tied for the 7th-highest two-bedroom rent (county range $1,220–$1,730). The median county two-bedroom FMR in Virginia is $1,262, so ZIP 24004 is 10% above it.
How much will Section 8 pay for a two-bedroom in ZIP 24004?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,464, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,318 to $1,610 a month; under the ZIP-level Small Area FMR of $1,390 it would be $1,251 to $1,529. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 24004 in?
ZIP 24004 is in the Roanoke, VA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,464.
How much did fair market rent change in ZIP 24004 for FY 2027?
The two-bedroom FMR rose 15.8%, from $1,200 in FY 2026 to $1,390 in FY 2027. Since FY 2023 it has risen 47.9%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set